banner_ad

Audit of trust

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
16 August 2013 whether it is compulsory for the trust to make audit. if not then what are the limit for audit compulsory .pls give me answer
Profile Image

Ganeshbabu K

Profile Image

Ganeshbabu K (Expert)
16 August 2013 1)If gross total income of trust before claiming deductions under section 11&12 exceeds Basic exemption limit then books of accounts of trust is subject to audit

2)(i)Audit report in form 10B is required to be filed online

(ii)Income tax return to be filed electronically

because of Proviso to Rule 12(2) Substitued vide income tax (seventh ammendment rules)2013
Profile Image

sivadas chettoor

Profile Image

sivadas chettoor (Expert)
17 August 2013 The total income of the trust has to be computed as if it is not entitled to exemption. If that TI exceeds the taxable limit then audit is attracted.It is important to fix the status also.

siva208@yahoo.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details